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Today's edition of The Economist has a short article (p68) looking at the decline in the gold price.
"One reason may be that investors have so many options nowadays. Humble citizens who distrust their own currencies can buy assets ranging from shares to bitcoins."
Very encouraging to see bitcoin mentioned in the context of a global asset class in a magazine (sorry, newspaper) with this readership.
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Apparently he was putting up fake sell "walls" to drive the price down! Who even knew that was illegal, let alone 20 years worth. I put something up for sale, then flake out at the last second ... how is that illegal? Its ludicrous. Anyone who's stared at a level 2 trading screen sees HFT 100 lot orders constantly flashing in and out within milliseconds continuously baiting you . And that the state thinks it should take a view on trading tactics between grown adults in the totemic heart of the free world. I think it's indicative of their weakness. Would they have spent 5 years hunting someone who caused a spike up? |
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Apparently he was putting up fake sell "walls" to drive the price down! Who even knew that was illegal, let alone 20 years worth. Maybe thats where that forum PM subpoena is heading... |
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Im giving up in beliving bears - there wont be sub 200 coming. never again   Maybe not, but my monkey thinks 250 in a week or so. Then 380 in April. Monkey is right so far, this time. Time to stock up. Good call. Maybe you should get this monkey a typewriter... |
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Fascinating! I haven't seen this before! Nah, most of those guys are relatively small fish from the reddit brigade. From my observations it's likely a small group of unrelated individuals with professional market experience, deep pockets and pretty sophisticated bots. You wanted Wall Street, well they are here and are shaking the market for all it's worth! This. Trading seemed to start stepping up in ruthlessness / quality around 18 months ago, after the April 13 bump. ...and thanks for your observations, always worth reading. |
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Of course he is right. it is akin to share dilution
What would the difference be between
21 million coins at $1 dollar each
and 42 million coins at 50 cents each?
No. That would be a precision change (which is also allowed) Bust my balls all you like. I like robust debate, it makes it worthwhile. As long as its done intelligently. And dont worry, I see your point. But it dont change the fact that Bitcoin has a built in price relief valve that a lot of people seem very afraid to mention. Just sayin' Hey, newbie troll, enough already. Go start your own thread for this bollocks. |
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- the difference between Doge and Bitcoin is that there isn't a cap to the total number of Dogecoins created,
whereas Bitcoin will only ever have a max of 21m coins (unless the protocol changes).
Its nothing to do with the protocol - if it were then there may be some guarantees that this 21m cap will be concrete. No, its simply an arbitrary value ( actually - its an 'operand') in the code that can be changed at any time without having any effect on previous, existing or future transactions. So, in otherwords, where most 'protocol' changes would, at the very least, require a "hard fork", the change in the cap to 22M or 42M or infinite cap could be made in the next minor version release. I dont know where people who are supposed to understand these things get the idea of a hard limit to bitcoin. Its only a 'guide' or estimate. It can change once enough people want it. Its just one line of code!! The 21 million cap, is as concrete as peoples trust in Bitcoin..... or rather peoples trust in Bitcoin is as concrete at the 21 million cap. That's why he's trying to FUD it. |
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Also that (insert buzzword salad) 21 inc would be doing looks to be probably mining: https://www.cbinsights.com/company/21e621 Inc, formerly 21e6, is a stealth company that aims to manufacture Bitcoin ASIC. Company (Alive / Active)
A Bitcoin ASIC doesn't need to be a mining ASIC |
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[nice trolling]
Remeber this whenever you feel the urge to click "ignore".
Nice one. Still, the ignore button is your friend, especially when the troll brigade is out in force. What matters really is how you define 'troll'... different opinion than my own: not a troll. Low content posts trying to get a rise out of people: troll, ignore becomes an option if you still want to use the forum for its intended purpose. I second that, and for the story, even I don't agree with many people's posts here I don't have them on ignore. I do have on ignore though a LOOOONG list of multiple accounts of -a-one-and-single-user- here... LambYourMotherEtc...  Careful. By grafzep's algorithm, you're now on his ignore list as well ^_^ Jorge's is academic's approach: no knowledge is useless. Ergo, by clicking ignore button, you are always losing. This assumes that knowledge gaining is free. This assumption is correct only for a tenured academic which is insulated from economic reality.  For the rest of us economic approach would be better: a text worth reading if benefit of reading it overweights costs of the reading, that is if there is no better use for the time, spend on reading it. Nothing personal, just economics. Indeed. Someone called him a time waster the other day - and that is his trolling method. He repeatedly asks stupid questions or easily googled ones just to get a response. He chimes in with the most banal level of 'academic' analysis to both be a part of the group and to feel superior to it at the same time. He is the antithesis of the entrepreneurial spirit, using his unsackable position to rob the Brazilian tax payer and waste his time here wasting our time. Tenure as an academic principle to protect and encourage free thought without political interference was hard fought for, and it makes me sick that shallow pricks like him use it to actually get in the way of new ideas. He's not funny and he's not clever. Give me NLC any day, at least he's honest to himself and us about what he's doing. Stolfi is a useless cancer and should have the blood supply from schmoes like oda cut off. |
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Nice one.
Still, the ignore button is your friend, especially when the troll brigade is out in force. What matters really is how you define 'troll'... different opinion than my own: not a troll. Low content posts trying to get a rise out of people: troll, ignore becomes an option if you still want to use the forum for its intended purpose.
You constantly feed the troll Stolfi, which is bad enough, but you also quote his attention-whoring all the time which is both another kind of feeding and staggeringly rude to very many here that have him on ignore. So, "nice one", join him on another ignore. |
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So what is YOUR take on nations spending money that the unborn will have to repay?
That is terrible, of course. But replacing a failing currency by a crypto that, if successlul, will make trillionaires of Satoshi & friends is even worse. Where will those trillions come from? And if the crypto fails, there will be no one to exchange it for euros at a fixed rate. Again trillions will have changed hands, with no relation to work done. Much like the suckered Brazilian tax-payers keeping your tenured butt in buttered smug. |
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I realize many more things now than as little as a year or two ago. It's called "experience".  Every day is a school day, if we're lucky. I love experience. |
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Many astute guys have a theory that TPTB are bullshitting us the final last time with a move that goes to high-5 digits, sucking their money in the game, crashing the price, and gaining a public record of all the people who are thinking independently enough to buy in, but are not paranoid enough to realize that it was a bankster/government con all the way from Satoshi to the FEMA camp.
Do I believe that? It's certainly a possibility.
Hilarious! You do realise that those nagging voices are not "many astute guys"? ...Nurse! |
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But, but that's more than a "castle" with a used Beemer outside. Don't these people understand status? |
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Wish we had an etf to invest in already. Then i could buy through my trading account and keep it in my tax free wrapper. Grr. If it were that easy, everyone would do it - and you'd get a lot fewer. It's worth the extra clicks and wrapper loss to stock up early. |
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...
think not?
Wall St. banksters have Trillions of dollars under management and basically own a printing press ...
+1, look at how Microsoft established its monopoly in the 90's for an example. Also note the scale of the "war on terror" and how the main countries targeted just happen to be the few remaining states with sovereign central banks (Iran and Syria). Maybe that sounds like tinfoil but the same "coincidences" keep coming up through history. "Give me control of a nation's money and I care not who makes it's laws", or more accurately, take control of the worlds money and crush any one or any thing that stands in your way. Millions have died because of it. If the banks wanted to drive BTC into the ground they could it with relentless selling at negligible cost in their scheme of things. Buy hi sell lo, even 100,000 coins at $100 loss every week comes to less than 1% of profit (and it would be booked as a trading loss anyway) (US bank profits 2013 $154Bn) |
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... there was a network scale attack I pointed out to Gavin and the other devs after observing namecoin network getting "hung" for months by miners joining and leaving en-masse due to mining incentives and price fluctuations ...
if a well-resourced 'dishonest miner' attacker could build up a significant of quantity of mining power and ramp up hash-rate by bringing on-line an ever-increasing amount of compute, selling all btc the whole way and simultaneously drive price lower over the same period, squeezing out 'honest' miners ... then in a final act take all their mining power off-line during a final dump of price then it would leave the network hanging at very low block solving rate (long confirms) waiting forever for the next retargetting and a low price and take a toll on confidence ... the fix was to allow for a 'special' retargetting on the downside if it hasn't happened after a time-out, not just the set 2016 blocks.
Was this fix put in place? I've had similar concerns about a "remove hashing power" attack |
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I thought the exchange downtown had some reps there to help you with the wallets etc? Kind of like bank clerks.
There's Bitcoiniacs at Waves, and the Bitcoin Co-op guys in Gastown. I suppose those are options too. But this individual is mostly interested in price speculation as part of a diversified investment portfolio. I'm not sure it's important for him to learn about bitcoin wallet security at this point in time. Perhaps that can wait. that doesn't sound too wise. Bitcoin is meant to encourage personal responsibility. plus it will make him learn and appreciate what Bitcoin is all about. speculation on the price is somewhat dependent on one being able to hold onto one's coins w/o getting scammed. This is what I mean when I say that questions like this from my friends and acquaintances are always difficult for me to answer. It's a chicken and egg problem. Once you're a bitcoin holder, you're more eager to learn about bitcoin security and blockchain technology. But if the process is too difficult, and if you (think you) just want to speculate on price, then I can see that being bombarded with information about private keys, cold storage, 2FA, etc, etc, could seem like information overload. Let him set up a proper exchange account (esp if he wants best prices w trading in mind) and point out, as I've done to interested newbs, that all the pia KYC is helping to keep the price down by discouraging casual and impulse buys. It is his price advantage that there are hoops to jump through. Bitcoin is trading at a discount because it is non trivial to acquire. |
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Cheap international transfers, routing around capital controls and avoiding dragnet monitoring of cross-border financial transactions, i.e anything cross-border is the killer app for bitcoin right now. imho.
Front-end tools for cross-border end-user btc wealth management are less than stellar, i.e. non-existent.
In my view the "killer app" is managing wealth past death duties. Cross border is important, but I see it as 2D space: adding generational time opens up 3D power. When the moderately wealthy (say property devs or mainstream entreprenuer types around $5-20m) realise that the 'coin can give them the kind of planning previously limited to serious money, they'll be piling in. And in aggregate that's a lot more new money than the odd marquee name like Branson. |
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